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Grayscale has submitted an application for the listing of the Grayscale HYPE ETF, with the proposed Nasdaq trading symbol GHYP.
Odaily Planet Daily reports that Grayscale has submitted an application to list the Grayscale HYPE ETF, which will track the native token HYPE of Hyperliquid.
According to the S-1 filing submitted on Friday, if approved, the fund will be listed on NASDAQ under the ticker symbol GHYP, with Coinbase Custody serving as the custodian and using CoinDesk’s benchmark pricing data.
The document also states that HYPE staking is currently prohibited, but there are future conditions that could allow for staking. Additionally, Grayscale is not the first institution to submit an application for a HYPE-related fund; 21Shares and Bitwise had submitted similar applications at the end of last year. (The Block)